At the beginning of this year, businesses were generally optimistic about the IT budgets they had set.

In January, based on findings from Forrester Analytics’ Business Technographics survey, 45% of all Australian businesses believed IT budgets would increase in the next fiscal quarter, while nearly one in two believed it would stay the same. Only 7% thought budgets were going to be slashed.

But that dramatically changed once the coronavirus pandemic hit Australia in March.

When those same decision-makers were surveyed again in May, 45% said their IT budgets were going to decrease during the next fiscal quarter, 34% thought it would remain the same, while only 20% thought their IT budgets would increase.


IT budget expectations when business leaders were recontacted and surveyed in May 2020.

Forrester Analytics Business Technographics Survey

This sentiment is expected to linger for a while, according to Forrester analyst Sam Higgins. He noted that

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